Bitfarms (TSE:BITF) Trading Down 2.2%

Bitfarms Ltd. (TSE:BITF) fell 2.2% on Friday . The company traded as low as C$2.65 and last traded at C$2.68. 1,171,222 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 4,488,693 shares. The stock had previously closed at C$2.74.

Analyst Upgrades and Downgrades

Separately, ATB Capital set a C$6.50 price target on shares of Bitfarms and gave the company an “outperform” rating in a report on Monday, April 1st.

Bitfarms Trading Down 2.2 %

The company has a fifty day simple moving average of C$3.25 and a 200-day simple moving average of C$2.91. The company has a current ratio of 1.88, a quick ratio of 0.63 and a debt-to-equity ratio of 6.74. The stock has a market cap of C$895.52 million, a price-to-earnings ratio of -4.96 and a beta of 3.40.

Bitfarms Company Profile

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada.